Suspension of the Licence of Leadenhall Bank & Trust Company Limited and the Appointment of a Receiver

Published: Monday July 18th, 2005

The Central Bank of The Bahamas has suspended the bank and trust licence of its licensee Leadenhall Bank and Trust Company Limited pursuant to section 18(2) and 18(4) of the Banks and Trust Companies Regulation Act, 2000, with effect from the 18th July 2005, for a period of ninety days or such shorter period as shall be determined.

The Central Bank of The Bahamas has appointed Mr. Craig A. Gomez as Receiver of Leadenhall Bank and Trust Company Limited pursuant to section 18(1)(f) of the Banks and Trust Companies Regulation Act, 2000 with effect from 18th July 2005. Mr. Gomez is authorized to assume control of Leadenhall's affairs in the interest of its creditors and to exercise all the powers of a Receiver under the Companies Act, 1992.

The Central Bank has taken these actions to protect the interests of depositors of this licensee. Any enquiries about the operation of the business during the receivership should be addressed to:

Mr. Craig A. Gomez One Montague Place, 2nd Floor East Bay Street P. O. Box N 1965 Facsimile: (242) 393 6438